EDIT: SINCE FIRST WRITING THIS BLOG, THE PRICE HAS BEEN REVISED TO £350K, SO THEY OBVIOUSLY MISPRICED THIS FIRST TIME AROUND
Look at the space available with this property, including a significant amount of parking space, this would really work for a large family......
We don't often see large properties like this in great condition being offered at such competitive prices. With excellent parking, a huge garden, garage & workshop space, there is little that needs doing to this house except maybe tone down some of the strong room colours to a more neutral palette. Homes of this size with large bedrooms really suit families with teenage children or elderly relatives living with them, and the area around here is very well established and popular with Bletchley folk, offering shops, schools and a thriving community atmosphere.
At the asking price of offers over £250k, you would spend a weekend painting and have this on the rental market for at least £1300 PCM (and likely a little more - allow them to keep pets and it certainly will achieve a great rental price). Even at the lower end of expectations, this would see a return of 6.2% which is just stunning given todays historic low levels of interest paid by other savings account and investments.
Don't forget that larger, well maintained properties in great areas also incur the best capital appreciation (growth in value over time), and this one could well be worth close to £300k after 2 years, that's money in the bank and a positive equity situation, along with strong rents this means that all the right ingredients are here in this one house to deliver exceptional financial returns in the future.
I will regularly post what I consider to be great buy to let deals across Milton Keynes and surrounding areas on this blog 3 or 4 times a week, irrespective of which agent they are being marketed with. Maybe you should subscribe and be kept up to date?
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